Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1887-01-14

Inc lOllOWlng extractS are take from the 1
report of State Comptroller ]. Frank Tur- !
ner, which was submitted u the Governor /
last week:
The total receipts into the treasury from |
all sources during the fiscal year amounted |
TO the sum of 81 ,994 27S.77, which, added TO (
the balance in the treasury on the 30th day
of September, 1885, makes the total amount
in the treasury during the fiscal year Of Ss,'
TAI ,6S6.10 The receipts for the year have
been fraction less than they were for the
years 1884 and 1885, but they are about
what have been the average for the past
nine years II is very gratifying 10 fad that,
notwithstanding the general depression iasi
has prevailed throughout the osuniry, and
the consequent lessening OF revenues 81 al
monetary institutions, The receipts q oar
State Treasury are satisfactory,
DISBURSEMENTS
The total di<Sarsenoass dursns The pak.
amounted to g., iSS,ioe 7s In this SaR -
included the expenses az the Lezislstars.
the pay Of its members and officers, &zaS1.s~
ing to the sun Of $il0.69S IS. pchssc pratt
ing aHd publishing The laws, 81. 796,sS; the
refaading Of moneys on aecouat OF ltoea asses
issued TO carry oysters over the waters 81
the state, aad licenses abridged hy the en-
actment OF . new oyster law 1884, Sss,-
1886, and special appropriations 10 the
amount SIS .SlO76, amounting in the Ssgre-
gate TO the sum Of $S07 ,SS965 There IS
also included in the disbursements the sum
of $276. S77.10. expended in the purchase O.
stock and the redemption oi balance Of the
old defense loan, aud after deducting these
several sums from the total disbursements
there remains the sum OF 81 $40. 9430l Is the
net ordinary expenses of the State govern
ment for the fiscal year 1896.
FREE SCHOOL FUND.
The receipts on account of the free school
fund during the fiscal year have been $69.-
340S6, which, added to the balance, ST.
22049, standing TO the credit Of this fund on
the SOsh day oil September, 1885, make the
aggregate amount of said fund during the
year to be $76,56l.S3 The disbursements
Of this fund during the fiscal year amount
to the sum of $6S, $50 SO, leaving balance
of $7,S7S.S1 to the credit of this fund st the
end Of the fiscal year just closed. The re
ceipts and disbursements on this account
are about the same they have been for the
years 1884 and 1886 The investments be.
ing of such a stable character the annual
revenue arising therefrem has varied but
little for number Of years past. The state
meDt gives in detail the sources from which
this fund was realized and the amount sp
W D6llulpIt dS we'll MS W
each county of the State.
SINKING FUNDS
Statement FL exhibits in detail the sew
eEal stocks and bonds purchased during the
fiscal year, as well as the stocks and bonds
in which the entire sinking funds Of the
State are invested. The sinking fund in
vestments amount 70 the sum of $l,152,-
2901S Notwithstanding the treasury o.
feprS hail the a naneas iuptdant III, tho sos
sion of the Legislature to provide for, as
well as 10 pay moneys on account OF special
acts passed at said session, AS shown alb we,
we are happy TO state that We have been
able To maintain 10 their integrity tns snx-
ing funds during the fiscal year just close |.
THE STATE DEBT.
The debt of the State is shown by "state-
ment J" To be $l0960, $3.50. AS an Offset
TO this debt the State holds stock vi the Bal
timore and Ohio Railroad Company to the
amount of 81 ,518 $3.50; stock in Farmers
National Bank of Annapolis amounting to
6,470; stock of Annapolis Water Com
pany, $4,000; bonds of Northern Central
Railway, 81 100000 bonds Of the State,
City of Baltimore and other gOol securities
in sinking funds, $t,752, 200. IS; to which
add Maryland Hospital bonds called in on
October LIST, amounting to 800 900, and max
ing to date an Offset of $i,946 ,375.83.
All ol these investments pay promptly an
annual interest, or dividend, and outside af
the sinking funds they all pay or per
cent, aud $550,000 OF the stocks yield an
nually dividends amounting to 10 per cent.
There is not anything in this whole list
comprisin! the Offset to the States indebted
ness, save perhaps the over llI obligations
OF the State, which would not bring to day
han isume premium million and quar-
ter Of dollars would not he too large an esti-
mate--but de'lucting themat their lacs value
and W, b "; ~ the net ,fsb. OF the State at
time the su ol $60l4 lJJ s. In less than
five Years rom this time, shju tn, pr sent
revenues be maintained AMI oar l. ,sS,a
lures airs as economical and Conservative as
the past two have been, and the present tax
be continued, we will be able to take off State
taxes except those for educational purp 1ses.
This is what believe can be done with "a
continuance of present revenues and with
out an increase in expenditures, but whether
it will be done or Should be done are ques'
tons 'hat the future must determine. By
the time the next Legislature meets W. Will
have considerable portion OF the State debt
In the sinking fund. While it might in some
aspects seem desirable 10 take off ut one time
the whole State tax Of 81 cents, yet think
the fairest and most equitable mo 10 OF taxa
ton is 10 lessen the tax just rs soon rs 1t
can be done without embarrassment 10 the
treasury.